Western Africa: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Western Africa

In 2022, the West African electric soldering iron market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption saw notable growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Electric Soldering Iron Production in Western Africa

In value terms, electric soldering iron production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Electric Soldering Iron Exports

Exports in Western Africa

In 2022, shipments abroad of electric soldering irons and guns decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, electric soldering iron exports declined rapidly to $X in 2022. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana was the main exporter of electric soldering irons and guns in Western Africa, with the volume of exports amounting to X units, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X units) and Senegal (X units), together making up a X% share of total exports.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana, Cote d'Ivoire and Senegal increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric soldering iron supplying countries in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), together accounting for X% of total exports.

In terms of the main exporting countries, Senegal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price showed a mild reduction. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Electric Soldering Iron Imports

Imports in Western Africa

In 2022, purchases abroad of electric soldering irons and guns increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, electric soldering iron imports surged to $X in 2022. Overall, imports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, accounting for X units, which was near X% of total imports in 2022. Ghana (X units) and Guinea (X units) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported electric soldering irons and guns in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

In Nigeria, electric soldering iron imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, reducing by X% against the previous year. Overall, the import price saw a mild setback. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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